ULI Ultra Lithium Inc

Canadian Orebodies Inc. (TSX VENTURE:CO) ("Orebodies") is pleased to announce
assay results which demonstrate a zone of strong tantalum values over a 670
meter strike length from the initial drilling program on the Tebishogeshik
showing on its Zigzag Tantalum/Lithium and Rare Metals property (the "Property")
under option from Ultra Lithium Inc. (TSX VENTURE:ULI) ("Ultra"). The Property
is subject to an Option Agreement with Ultra and the underlying property owners
to acquire an 80% legal and beneficial interest (subject to a 2% NSR retained by
the Owners, 50% of which can be purchased by Orebodies for $1,000,000).


Highlights



--  Hole CO-10-008 assayed 299.07 ppm Ta2O5 over 6.92 meters, which includes
    399.82 ppm Ta2O5 over 2.92 meters. 
    
--  Hole CO-10-007 assayed 197.29 ppm Ta2O5 and 1.08 % Li2O over 6.1 meters,
    which includes 240.18.29 ppm Ta2O5 and 1.49 % Li2O over 3.05 meters. 
    
--  Hole CO-10-010 assayed 237.68 ppm Ta2O5 over 3.65 meters. 
    
--  Zone of strong tantalum enrichment over a 670 meter strike length. 



Zigzag Property Overview

The Property in total consists of 129 claim units comprising 2,064 hectares,
located approximately 60 km northeast of Armstrong, Ontario. The property is
host to 5 historical lithium and rare metal showings of consequence.


Historical highly anomalous tantalum and cesium values are notably widespread on
the property and indicate a high potential for zoned, complex-type pegmatites
enriched in tantalum and cesium. Complex-type pegmatites are excellent targets
for economic deposits of lithium, tantalum, cesium and rubidium such as the
Tanco pegmatite in Manitoba.


Zigzag Drilling Overview

There were a total of 8 short holes drilled on the Tebishogeshik showing on the
Zigzag property, totalling 484.6 meters during Orebodies initial program. Each
hole drilled intersected pegmatite which demonstrates approximately 670 meters
of strike length from hole CO-10-008 on the west to CO-10-011 on the East end.
Results from every hole, except CO-10-004, demonstrate there is a zone of strong
tantalum enrichment with highly anomalous values for other rare metals. Due to
the fact that CO-10-004 assayed uncharacteristically low in tantalum values it
is being sent back to the lab to be re-assayed.


Gordon McKinnon, President & CEO commented "This initial drill program was very
successful in demonstrating that there is a significant tantalum mineralization
zone on the Zigzag property that extends for 670 meters and remains open in all
directions." Gordon McKinnon further commented "It should be noted that tantalum
prices have been increasing significantly in the past year and are anticipated
to remain at these elevated levels for some time as numerous constraints
continue to put pressure on the tantalum market."


TABLE 1 - HIGHLIGHTED DRILLING ASSAYS FOR TEBISHOGESHIK SHOWING



----------------------------------------------------------------------------
Channel #          From    To Width  Ta2O5 Li2O     Be     Cs     Nb      Rb
                    (m)   (m)   (m)  (ppm)  (%)  (ppm)  (ppm)  (ppm)   (ppm)
----------------------------------------------------------------------------
CO-10-005         10.73 21.10 10.37  86.92 0.27  36.07 132.40  32.65  803.35
----------------------------------------------------------------------------
  Including       10.73 14.48  3.75 192.79 0.45  79.05  71.93  58.91  870.93
----------------------------------------------------------------------------
CO-10-006         19.80 22.40  2.60 123.87 0.74 115.60  54.46  81.30 1201.54
----------------------------------------------------------------------------
CO-10-006         28.50 30.50  2.00 170.34 0.06 100.35  80.05 100.65  940.00
----------------------------------------------------------------------------
CO-10-007         12.45 18.55  6.10 197.29 1.08 114.07  56.55  69.33 1090.25
----------------------------------------------------------------------------
  Including       12.45 15.50  3.05 240.18 1.49 146.80  39.07  82.42  580.00
----------------------------------------------------------------------------
CO-10-008         11.50 18.42  6.92 299.07 0.40  35.83 123.97  67.30 1434.88
----------------------------------------------------------------------------
  Including       15.50 18.42  2.92 399.82 0.58  62.76 118.26  87.37 1522.74
----------------------------------------------------------------------------
CO-10-009         10.50 18.65  8.15 188.17 0.35 140.62  51.87  69.55 1079.26
----------------------------------------------------------------------------
CO-10-010         34.20 37.85  3.65 237.68 0.93  96.62  64.06 105.40 1102.19
----------------------------------------------------------------------------
CO-10-011         14.50 18.56  4.06 106.08 0.27 194.10  64.12  84.38 1618.28
----------------------------------------------------------------------------
CO-10-011         39.50 41.95  2.45 223.44 0.07 126.92 248.98  46.78  859.98
----------------------------------------------------------------------------



(Widths above are the intercepted widths of the mineralized zone, true widths
are not known at this time.)


Tantalum Information

Tantalum is a specialty metal which is highly corrosion resistant and has the
highest ability to hold and release electricity. These characteristics make it
essential for electronic devices (tantalum capacitors) and specialty
applications such as jet engines. Several events in the global market have
caused the price of tantalum to increase significantly as of late, mainly the
fact that two of the largest producers have shut down (Tanco deposit in Canada
and Talison Tantalum in Australia) which represents nearly half of the world
market. These shutdowns have led to a global supply that has fallen behind
demand and the market now requires additional production from new projects.


Orebodies Zigzag property is very interesting for the fact that besides high
grade lithium, tantalum could have one of the most considerable economic
benefits as historically there have been a significant amount of samples
collected that demonstrate widespread, high grade results. Breaks (2003) stated
that individual analysis from the Tebishogeshik Lens 3 exceeded 80 wt % Ta2O5
and were amongst the highest documented in lithium-rich pegmatite of Ontario.(i)


(i)(historical in nature and not 43-101 compliant and therefore should not be
relied upon.)


It should be noted that typically samples with higher tantalum values tend to
have low lithium values as is representative of sodic aplite and albitite-rock
units that represent significant host- rocks for tantalum mineralization. This
is demonstrated by the Tanco Mine in Manitoba and the Wodgina and Greenbushes
Mines of Western Australia. However, there are samples with high lithium values
that also carry strong anomalous tantalum.


A thorough quality control program is in effect which includes inserting
standards and blanks alternating every 25 samples. All samples were submitted to
ALS and analyzed using four acid digestion and ICP-MS. For more information on
assay methodology please visit the ALS Laboratory Group. Website at
http://www.alsglobalcom.


This press release has been prepared under the supervision of Mr. Don Hains
(P.Geo.)., who is an independent consultant to the Company and a "qualified
person" (as such term is defined in National Instrument 43-101). Mr. Hains has
verified the technical data disclosed in this press release.


Forward-Looking Information:

This press release contains certain "forward-looking statements". All
statements, other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or anticipates will or
may occur in the future (including, without limitation, statements relating to
mineral resources, potential mineralization, exploration results and the
Company's plans with respect to the exploration and development of the
Properties) are forward-looking statements. These forward-looking statements
reflect the current expectations or beliefs of the Company based on information
currently available to the Company. Forward-looking statements are subject to a
number of risks and uncertainties that may cause the actual results of the
Company to differ materially from those discussed in the forward-looking
statements, and even if such actual results are realized or substantially
realized, there can be no assurance that they will have the expected
consequences to, or effects on the Company. Factors that could cause actual
results or events to differ materially from current expectations include, among
other things, changes in commodity prices, changes in equity markets, failure to
establish mineral resources, changes to regulations affecting the Company's
activities, delays in obtaining or failures to obtain required regulatory
approvals, uncertainties relating to the availability and costs of financing
needed in the future, the uncertainties involved in interpreting drilling
results and other ecological data, and the other risks involved in the mineral
exploration and development industry. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events
or results or otherwise. Although the Company believes that the assumptions
inherent in the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent uncertainty
therein.

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